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Thread: What are good ways to found a business intelligence company?

  1. #1
    Junior Member
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    Nov 2021
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    What are good ways to found a business intelligence company?

    Since you are asking this under the Lean Startups topic, I am assuming you are asking about starting a company in a way that avoids waste and optimizes learning.

    In my opinion, your biggest objective should be to make sure that your BI solution has a way to separate itself from whatever is already on the market. How do you plan to differentiate?

    1 - I analyze data better than the others

    If true, that is very cool. Congrats. You should be able to collect a data dump from your potential customers, do some magic with it and come back with some mockup reports that will blow their minds. If you don't blow their minds, there some learning to be realized.

    2 - I am easier to use, have better features

    Is there a way you can simulate how these features are going to work? if so, show your customers mockups of what you are planning to do. Get some feedback. Refine. Prototype. Repeat. Make sure you capture their reactions and that they get REALLY excited about what you are bringing.

    3 - I'll be cheaper

    Prototype to ensure that you can build such a simple product that is simple enough but also makes them perceive value.

    ... I have no idea what my differentiation angle will be

    If you are still at this point, I'd say you haven't done enough Customer Development yet and you should do an exploration interview with some potential customers until you learn more about what their problems are, how they fix those problems today and how you can fix it better than the others.

  2. #2
    Junior Member darchie9717's Avatar
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    Mar 2022
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    The average business produces large volumes of data, data about profits and losses, consumer trends, sales of specific products and services, employee performance metrics, and divisional productivity, to name just a few examples. While raw data alone has limited application, careful analysis can yield actionable insights that drive revenues and help businesses sustain growth. According to a 2019 report from Forbes, 95% of businesses say that they have a problem with unstructured data, that is raw data that has not been organized or prepared for analysis.
    Last edited by darchie9717; 04-14-2022 at 11:38 AM.

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